If we have received a check from customer on 02 feb.10,
deposited in bank on 3rd and check cleared on 5th feb. what
are the journal entries should be passed for all three
days?
Answer Posted / judson
Debit the bank and credit the customer on 3rd, in-case the check is not honored reverse the entry and raise a debit note for the bank charges.
Is This Answer Correct ? | 4 Yes | 6 No |
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